Medifast (NYSE:MED) Issues Q2 Earnings Guidance

Medifast (NYSE:MED) updated its second quarter earnings guidance on Monday. The company provided EPS guidance of $0.05-0.40 for the period, compared to the consensus EPS estimate of $0.68. The company issued revenue guidance of $150-170 million, compared to the consensus revenue estimate of $178.50 million. Medifast also updated its Q2 2024 guidance to 0.050-0.400 EPS.

Medifast Price Performance

MED stock traded down $8.25 during midday trading on Tuesday, hitting $27.26. 798,471 shares of the stock traded hands, compared to its average volume of 384,123. The stock’s fifty day simple moving average is $36.23 and its 200-day simple moving average is $54.44. The firm has a market cap of $297.13 million, a P/E ratio of 2.94 and a beta of 1.14. Medifast has a 1-year low of $26.02 and a 1-year high of $109.52.

Medifast (NYSE:MED) last announced its earnings results on Monday, April 29th. The specialty retailer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.12). The business had revenue of $174.74 million for the quarter, compared to analyst estimates of $168.90 million. Medifast had a return on equity of 56.06% and a net margin of 9.27%. The company’s quarterly revenue was down 49.9% compared to the same quarter last year. During the same period in the previous year, the company earned $3.67 earnings per share. On average, research analysts predict that Medifast will post 1.91 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on MED shares. TheStreet cut Medifast from a c rating to a d+ rating in a report on Wednesday, February 21st. DA Davidson dropped their target price on shares of Medifast from $67.00 to $40.00 and set a neutral rating for the company in a report on Wednesday, February 21st.

Insiders Place Their Bets

In other news, Director Scott Schlackman sold 4,053 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $39.44, for a total value of $159,850.32. Following the completion of the sale, the director now directly owns 7,785 shares in the company, valued at $307,040.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.06% of the company’s stock.

Medifast Company Profile

Medifast, Inc, through its subsidiaries, engages in the manufacture and sale of weight loss, weight management, and healthy living products in the United States and the Asia-Pacific. It offers bars, puffs, cereal, crunchers, drinks, hearty choices, oatmeal, pancakes, pudding, soft serve, shakes, smoothies, soft bakes, and soups under the OPTAVIA, OPTAVIA ACTIVE, and Optimal Health brand names.